Fed-s

U.S. Federal Reserve cuts interest rates by half a percentage point

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U.S. Federal Reserve cuts interest rates by half a percentage point

The U.S. Federal Reserve cut interest rates by half of a percentage point on Wednesday, kicking off what is expected to be a steady easing of monetary policy with a larger-than-usual reduction in borrowing costs that followed growing unease about the health of the job market. “The committee has gained greater confidence that inflation is … Read more

U.S. economy grows more than expected at end of 2023, driven by consumer spending

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U.S. economy grows more than expected at end of 2023, driven by consumer spending

The U.S. economy grew at an unexpectedly brisk 3.3 per cent annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households. Thursday’s report from the U.S. Commerce Department said the gross domestic product — the economy’s total output of goods … Read more